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Peaxy, Inc.: Peaxy Secures Series B Close

Investment Highlights Cross-Industry Need for Better Access to Large-Scale Engineering and Life Science Data SetsSAN JOSE, Calif., Sept. 30, 2015 (GLOBE NEWSWIRE) -- Peaxy, Inc.(www.peaxy.net), a software provider that enables data access and supportsadvanced analytics across the enterprise, today announced it has closed $15million in Series B funding. The investment, which was made by a number ofluminaries including Federico Faggin, brings the total investment in Peaxy to$32 million since it was founded in 2012.

"Enterprises are discovering that data access is vital to enabling greaterproductivity, innovation and new business models. Companies in a variety ofindustries such as aviation, automotive, genomics and energy stand to benefitgreatly by addressing the fundamental data access challenges they all face,"said Manuel Terranova, President and CEO of Peaxy. "This funding providesadditional resources to expand our platform features and commercial effortsinto a wider range of industrial and life sciences customers," saidFrancesco Lacapra, CTO and VP Engineering.

Peaxy software makes it possible for enterprises to find, mine, manage andreuse the growing volume of data assets that enterprises generate. Customerstoday use various tools including Hadoop to extract additional value fromtheir data. Peaxy software ensures they have a way to trace back to theoriginal information. "This is one way we enable new data-centric businessmodels for our customers, such as predictive maintenance and accelerated drugdiscovery," said Terranova.

According to Svetlana Sicular, Research Director at Gartner, "Manyorganizations are at the point where they figured out how to get the data inHadoop, but not how to get the data out and derive value from it. Thesecompanies are cracking under the pressure of rapidly increasing amounts ofunprocessed data*."

Peaxy, Inc. was founded in 2012 and is dedicated to addressing challengesimposed by the unprecedented growth in unstructured and structured data anddemand for data insights to drive growth, innovation and businesstransformation. The Peaxy team includes award-winning software professionalswith numerous accomplishments in infrastructure software development.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Peaxy, Inc. via Globenewswire